In a keynote session titled “Destruction and Rebirth: The Next Wave Agency Model,” Bryan Wiener, CEO of interactive agency 360i said, “I'm convinced we're on the cusp of a golden age for agencies that hasn't been seen since the 1960s.”
Pointing to trends such as user-controlled information and increasing media fragmentation, Wiener said there is a “dire need” for agencies to change if they are going to survive. “The marketing ecosystem desperately needs agencies to be change agents,” he said.
Agencies of the future will need to use the Internet as a complementary research tool to mine customer data, as well as embrace new platforms such as social media and mobile marketing, he added.
Jack Griffin, president of national media at publisher Meredith Corp., said, “The traditional value chain that once governed media and marketing has been disrupted. We are all in a common endeavor to connect our clients and their customers with valuable messages about products and services. If we relegate ourselves to just one place in that value chain, it's a sure path to extinction.”
During the same session, Martin Reidy, president-CEO of Meredith Integrated Marketing, discussed how the marketing services group of Meredith Corp. is mining its customer data to develop targeted programs for advertisers in a variety of platforms, including Facebook, Twitter and mobile.
“We know what people are doing, what they're buying and what their passions are,” Reidy said. “This gives us great in-depth knowledge about how to take the target to the next level and build on messaging.”
Griffin added, “Ongoing reinvention is the only way forward.”
In related news, IAB has released its first-ever Social Media Buyer's Guide.
The guide details the steps involved in planning a social media campaign, provides case studies of successful social media campaigns and summarizes pricing models and metrics for social media.
The guide is available at www.iab.net/sm_buyers_guide.